The husband of Speaker Emeritus Nancy Pelosi (D-Calif.) traded $38 million worth of stocks in the weeks before President Donald Trump's inauguration.
Venture capitalist Paul Pelosi sold $24 million worth of Apple stock and $5 million worth of chipmaker Nvidia stock. This is especially true for Nvidia, as its chips are helping fuel the artificial intelligence revolution.
Paul Pelosi even bought a stake in Tempus AI, a relatively unknown Chicago, Illinois-based healthcare company that uses artificial intelligence to process clinical and molecular data.
He bought $100,000 worth of call options on Tempus AI on January 14, and the AI company's stock price has soared since then.
The former chairman's husband is obligated to disclose stock transactions.
In the year ending Dec. 30, Pelosi's stock portfolio rose more than 70%, far outpacing the stock trading performance of the average trader. The former chairman's net worth is estimated to be over $240 million, the majority of which comes from her husband's investments.
A spokesperson for the former chairman denied any involvement in stock trading.
“Speaker Pelosi owns no stock and has no prior knowledge of or subsequent involvement in any transactions,” a spokesperson said.
The family's stock transactions, particularly the timing of large capital moves, have raised questions about potential conflicts of interest. Many lawmakers are calling for tighter regulations on lawmakers' ability to trade stocks. The former chair has opposed proposals of this kind.
Pelosi has long made stock trades that have raised eyebrows.
In 2011, Breitbart News senior contributor Peter Schweitzer revealed: Throw it all away Pelosi reportedly bought between $1 million and $5 million in Visa stock in one of the most popular and profitable initial public offerings in U.S. history.
At the same time, Pelosi reportedly blocked consideration of the Credit Card Fair Fees Act, which was opposed by Visa and other financial institutions.
This was near and dear to the late Andrew Breitbart. Andrew has long advocated for the Congressional Stop Trading Act (STOCK), which would make it illegal for members of Congress and their staff to use material non-public information to inform personal investments.
Breitbart News reported that many lawmakers may have continued to violate stock laws over the years. However, they claim that they “unknowingly”, “accidentally” and “forgot” to submit financial disclosure reports when conducting stock transactions.
Sean Moran is a policy reporter at Breitbart News. Follow him on X @SeanMoran3.
